180 Wealth Advisors LLC Grows Stake in Amgen Inc. (NASDAQ:AMGN)

180 Wealth Advisors LLC grew its position in shares of Amgen Inc. (NASDAQ:AMGN) by 5.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,093 shares of the medical research company’s stock after purchasing an additional 99 shares during the period. 180 Wealth Advisors LLC’s holdings in Amgen were worth $471,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in AMGN. Moneta Group Investment Advisors LLC grew its position in shares of Amgen by 83,875.6% during the 4th quarter. Moneta Group Investment Advisors LLC now owns 7,541,011 shares of the medical research company’s stock valued at $1,980,571,000 after purchasing an additional 7,532,031 shares in the last quarter. Norges Bank purchased a new position in Amgen in the fourth quarter worth $1,351,778,000. Envestnet Asset Management Inc. grew its position in Amgen by 216.1% in the first quarter. Envestnet Asset Management Inc. now owns 2,690,718 shares of the medical research company’s stock worth $228,997,000 after acquiring an additional 1,839,455 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in Amgen by 158.0% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 2,950,013 shares of the medical research company’s stock worth $774,791,000 after acquiring an additional 1,806,456 shares in the last quarter. Finally, Morgan Stanley grew its position in Amgen by 12.9% in the fourth quarter. Morgan Stanley now owns 13,301,365 shares of the medical research company’s stock worth $3,493,471,000 after acquiring an additional 1,523,665 shares in the last quarter. 74.44% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

AMGN has been the subject of several analyst reports. Mizuho upped their price target on shares of Amgen from $214.00 to $223.00 and gave the company a “neutral” rating in a research report on Monday, August 14th. Jefferies Financial Group upped their price objective on shares of Amgen from $275.00 to $310.00 and gave the company a “buy” rating in a research note on Monday, August 14th. Royal Bank of Canada upped their price objective on shares of Amgen from $250.00 to $253.00 and gave the company a “sector perform” rating in a research note on Friday, August 4th. Truist Financial reaffirmed a “hold” rating and set a $260.00 price objective on shares of Amgen in a research note on Tuesday, September 5th. Finally, StockNews.com raised shares of Amgen from a “buy” rating to a “strong-buy” rating in a research note on Friday, September 8th. Two analysts have rated the stock with a sell rating, five have issued a hold rating, eight have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, Amgen has an average rating of “Moderate Buy” and a consensus price target of $265.44.

Insiders Place Their Bets

In other news, EVP Murdo Gordon sold 9,558 shares of the firm’s stock in a transaction that occurred on Thursday, August 10th. The shares were sold at an average price of $262.43, for a total transaction of $2,508,305.94. Following the transaction, the executive vice president now directly owns 44,308 shares of the company’s stock, valued at $11,627,748.44. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Insiders own 0.46% of the company’s stock.

Amgen Stock Performance

Shares of NASDAQ:AMGN opened at $263.15 on Tuesday. Amgen Inc. has a 52 week low of $211.71 and a 52 week high of $296.67. The stock has a market capitalization of $140.76 billion, a P/E ratio of 17.74, a PEG ratio of 3.30 and a beta of 0.61. The firm has a fifty day simple moving average of $248.12 and a two-hundred day simple moving average of $237.72. The company has a quick ratio of 2.48, a current ratio of 2.77 and a debt-to-equity ratio of 8.76.

Amgen (NASDAQ:AMGN) last released its quarterly earnings results on Thursday, August 3rd. The medical research company reported $5.00 EPS for the quarter, topping analysts’ consensus estimates of $4.44 by $0.56. Amgen had a net margin of 30.02% and a return on equity of 196.60%. The firm had revenue of $7 billion during the quarter, compared to analysts’ expectations of $6.66 billion. During the same period in the previous year, the company earned $4.65 EPS. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. On average, analysts expect that Amgen Inc. will post 18.35 earnings per share for the current fiscal year.

Amgen Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, September 8th. Investors of record on Friday, August 18th were paid a dividend of $2.13 per share. The ex-dividend date was Thursday, August 17th. This represents a $8.52 dividend on an annualized basis and a dividend yield of 3.24%. Amgen’s dividend payout ratio is presently 57.45%.

Amgen Company Profile

Amgen Inc discovers, develops, manufactures, and delivers human therapeutics worldwide. It focuses on inflammation, oncology/hematology, bone health, cardiovascular disease, nephrology, and neuroscience areas. The company's products include Enbrel to treat plaque psoriasis, rheumatoid arthritis, and psoriatic arthritis; Neulasta that reduces the chance of infection due a low white blood cell count in patients cancer; Prolia to treat postmenopausal women with osteoporosis; Xgeva for skeletal-related events prevention; Otezla for the treatment of adult patients with plaque psoriasis, psoriatic arthritis, and oral ulcers associated with Behçet's disease; Aranesp to treat a lower-than-normal number of red blood cells and anemia; KYPROLIS to treat patients with relapsed or refractory multiple myeloma; and Repatha, which reduces the risks of myocardial infarction, stroke, and coronary revascularization.